Report: Homes Listed Mid-Week Sell for $1,700 More

By Kerry Smith

Every correctly priced listing today will likely attract offers, but a mid-week listing may give buyers the optimal amount of time they need to visit and make an offer.

SEATTLE – Homes listed for sale midweek sell for an average of $1,700 more than homes listed on the weekend, according to a report from Redfin that looked at home sales from July 2020 through February 2021.

“Because the market is so competitive right now, most homes will receive plenty of attention regardless of when they’re listed,” says Redfin Chief Economist Daryl Fairweather. “But sellers can still maximize their potential profit simply by listing in the middle of the week, which gives potential buyers a few days to see the home, talk to their agent and set up a showing for Saturday or Sunday.”

Fairweather offers one caveat: It’s important to price the home correctly.

“If the home is priced too high, fewer buyers will see the home; but if it’s priced too low, the seller may be inundated with so many tour requests a serious buyer could give up before laying eyes on it,” Fairweather says. “The goal is to get as many serious buyers as possible to tour your home, make offers and drive up the sale price.”

The study didn’t delve into buyers’ behavior, but it suggests that they may have appointments made for the weekend and less chance to see a new listing that came onto the market within the past 24 hours – a notable point during the pandemic because the bar is higher for showing appointments. The report authors think listing on a Sunday or Monday night give buyers time to lose interest.

Homes that hit the market midweek in Boston sell for an average of $7,100 more than homes listed on the weekend, by far the biggest premium of the 25 metro areas included in the analysis.

Minneapolis and Kansas City have the smallest midweek premium, with homes listed Tuesday-Thursday fetching just $400 more than those listed the other days of the week.

© 2021 Florida Realtors®

Reprinted with permission.

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